HomeMy Public PortalAboutORD10348 1
BILL NO. 84-172
SPONSORED BY COUNCILMAN Hequembourq
ORDINANCE NO.
AN ORDINANCE OF THE CITY OF JEFFERSON, MISSOURI, TO ACCEPT BID
FOR SIX HUNDRED THOUSAND .DOLLARS ($600,000) , .SIXTH OFFERING OF
FIVE MILLION, SIX HUNDRED THOUSAND DOLLARS ( $5, 600, 000 )
AUTHORIZED, SEWER REVENUE BONDS OF 1.984 OF THE CITY OF JEFFERSON,
COLE COUNTY, MISSOURI.
WHEREAS, the bid and offers of Stern Brothers & Co. for the
purchase of Six Hundred Thousand Dollars ( $600, 000 ) , sixth
offering of Five Million, Six Hundred Thousand Dollars
( $5, 600,000) authorized, in principal amount of Sewer Revenue
Bonds of 1984 of the City of Jefferson, Cole County, Missouri,
bearing interest as follows :
Maturities Interest: Rates
3/1/85 thru 3/1/93 11%
3/1/94 10.25%
3/1/95 10 .2%
3/1/96 10.4%
3/1/97 10. 6%
3/1/98 thru 3/1/2000 10.75%
at and for the price and sum of Six Hundred Thousand Dollars
($600, 000 ) and accrued interest to the date of delivery of said
Bonds and at a net interest cost of Six Hundred Fifteen Thousand
Four Hundred Eighteen Dollars and Twelve Cents ( $615, 418 .12 ) is
the highest and best bid made and offered for said Bonds ;
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF
JEFFERSON, MISSOURI, that Six Hundred Thousand Dollars
($600, 000 ) , sixth offering of Five Million, Six Hundred Thousand
Dollars ( $5, 600, 000 ) authorized, in principal amount of Sewer
Revenue Bonds of 1984 of the City of Jefferson, Missouri, dated
December 1, 1984, authorized at a special band issue election
held in said City on the 8th day of October, 1983, and bearing
interest as follows :
Maturities Interest Rates
3/1/85 thru 3/1/93 11%
3/1/94 10.25%
3/1/95 10.2%
3/1/96 10.4%
3/1/97 10.6%
3/1/98 thru 3/1/2000 10. 75%
. shall be and the said Bonds are hereby awarded and sold to Stern
Brothers & Co. at and for the price and suin of Six Hundred
Thousand Dollars ($600, 000) and accrued interest to the date of
delivery of said Bonds, and at a net ieiterest coat of Six Hundred
Fifteen Thousand Four Hundred Eighteen Dollars and Twelve Cents
($615,418. 12) all in accordance with the terms of sale as set
forth and contained in the "Notice of Bond Sale" and in the
"Proposal for the Purchase of $600, 000 (Sixth Offering of
$5, 600,000 authorized) Sewer Revenue Bonds of 1984 of the City of
Jefferson, Cole County, Missouri" .
BE IT FURTHER ORDAINED that the checks of all unsuccessful
bidders for said Bonds shall be returned to them forthwith upon
their respective receipts therefor and that thle check of the
successful bidders shall be held encashed by the City Treasurer
of said City pending delivery of said Bonds in accordance with
the terms of sale and award.
Introduced, read and considered for the first time by the
Council, on the 3rd day of December, 1984. 1
Passed Approved
P es i.ding Of4ticer Mayor
ATTEST:
City Clerk-